Tallinn-headquartered Utorg has raised $5 million in seed funds to grow headcount and IP for its fiat currency-to-crypto  “super app”, ahead of the official launch in the next couple of weeks.

The round is being led by digital assets VC Dragonfly alongside Kyiv/Frankfurt/US investor TA Ventures and Web3 VC fund Hypra.

Utorg’s super crypto app will debut before 2022-end. This Estonian contender is promising “modest” fees in what is a fairly competitive market, and says the money will provide its main source of revenue. Besides the price point, its app is slated to offer new features for digital asset power users, adding to Utorg’s existing fiat-to-crypto exchange, which supports a variety of crypto coins and accepts fiat from 187+ countries.

Early adopters of the new app can expect the usual crypto utility kit, with features like self-custody, digital wallets and fiat bridges, as well as an embeddable widget for making transfers through third-party apps and websites.